How do you finance laundromat equipment?

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The Coin Laundry Association estimates there are about 29,500 coin laundries in the U.S., bringing in nearly $5 billion a year. This guide covers those self-service stores, whether you’re building, buying or re-tooling one. If you run a hotel, hospital or linen-service laundry, see our commercial laundry equipment guide.

How does laundromat equipment financing work?

You pick the machines and the funder pays the seller. Then you make a fixed monthly payment while the machines earn. The usual structure is an equipment finance agreement (EFA), where you own the washers and dryers from day one and the lender holds a lien until they’re paid off. Terms run 24 to 84 months.

Leases run 24 to 60 months and end with a $1, 10% or fair market value buyout. Washers and dryers earn every day for a decade or more, so most operators finance them and keep them. I’d save the fair market value lease for a store you don’t expect to run for the machines’ full life.

Laundromat machine financing works the same way for one bank of washers or a whole store. Here’s what our laundry equipment financing covers for a self-service store:

• Machines. Front-load coin washers, larger washer-extractors, and tumble and stack dryers.
• Payment systems. Card readers and other payment and POS systems.
• Hot water. Water heaters and boilers.
• The store. Complete buildouts, with delivery and installation usually in the same payment.
• Extras. Wash-dry-fold automation and route and delivery vehicles.

Financing doesn’t change Section 179. The 2026 limit is $2,560,000, phasing out above $4,090,000 of purchases, and machines on an EFA or a $1 buyout lease with nothing down are deducted like a cash purchase if they’re placed in service by December 31. Laundromat equipment generally falls under IRS asset class 57.0, with a 5-year recovery period, though the IRS doesn’t name laundromats specifically. Confirm with your tax advisor.

How much do laundromat washers and dryers cost in 2026?

New front-load coin washers list for about $7,700 to $12,400 in the 20 to 45 lb sizes, and a new two-pocket stack dryer for about $11,600 to $14,200. Used machines list for far less. These are listed asking prices, not appraisals or offers:

Listed asking prices, not appraisals or offers, retrieved October 9, 2026. New: Wascomat coin models on WebstaurantStore (ranges include the 120V versions, which list higher; new stack dryer prices are the 35 and 50 lb models) and a Speed Queen 40 lb washer from Worldwide Voltage. Used: dealer listings, mostly 2003 to 2017 machines, priced per machine with freight extra.

How long a machine lasts matters as much as what it costs. The Coin Laundry Association estimates that front-load washers in the 18 to 50 lb range, dryers, water heating systems and coin changers each last 10 to 15 years. Top-load washers last 5 to 8.

Here’s what those prices come to as monthly payments:

Example payments at an assumed 9%, with no money down, before taxes, freight, installation and fees. Equipment rows use WebstaurantStore list prices for Wascomat 208-240V coin models: $7,699 (20 lb), $9,699 (30 lb) and $11,999 (45 lb) washers and $11,599 (35 lb stack dryer). Card readers are figured at $751 each. The $350,000 and $500,000 rows are example amounts, not cost estimates. Illustrative, not an offer.

Should you finance a new laundromat build or re-tool an existing store?

If you own a store with a track record, a re-tool is the simpler deal: equipment-only financing, often decided on the application alone and funded in days. A new build is a bigger project, and many owners split it, with an SBA 7(a) or 504 loan for the build and equipment financing for the machines.

A re-tool doesn’t have to happen all at once. Replace the oldest washers this year and the dryers next year, or add a card system now and machines later.

Card and app systems are financed like the machines. On top of the reader prices above, budget for installation, kiosks and service fees. On a small store, readers alone can fall under our usual $15,000 minimum, so put them on the same agreement as a few washers or the install work.

For a new build, the buildout (plumbing, venting, electrical, water heating and finishes) is its own line item. I’d get the equipment side quoted early. It’s the faster half of the deal, and knowing that payment helps you size the rest.

What do lenders look at before approving a laundromat loan?

They look at credit, time in business, the equipment, and whether the store’s collections can carry the payment. Four laundromat details to have ready:

• Turns per day. How many times each washer runs a day, on average. Industry figures put it at 3 to as high as 8 or more. The payment is sized against what the store collects, so bring your numbers.
• The store lease. Laundromats usually sign long leases, often 10 to 25 years. Expect a lender to compare what’s left on yours with the term you want. Seven-year financing on bolted-down washers in a store with three years left on its lease is a harder file than the same deal with twelve years left.
• Useful life against the term. The term can’t outrun the equipment’s remaining useful life. New front-loaders and dryers, at 10 to 15 years, fit an 84-month term easily. Top-loaders and older used machines usually get shorter terms.
• The location’s track record. A store with years of collections at one address gives the lender something to underwrite. A new store doesn’t have that yet, so the file leans on the owner’s credit, experience and cash.

On credit, many established-business programs start around 600 FICO, and two or more years in business opens the broadest set of programs and the best pricing. The score alone rarely decides it. Cash flow, the equipment and money down all move the answer.

Can a first-time owner get a laundry business loan?

Yes. Qualified first-time owners are considered, but the bar is higher. A business under a year old is underwritten as a startup, which typically means 700+ personal credit, relevant industry experience, and working capital left over after the purchase.

If you’ve managed or worked in a laundromat, say so on the application. Our startup equipment financing guide covers what helps and what to do if you’re not there yet.

Buying an existing store is a different deal. Most laundromat sales run 3 to 5 times net cash flow, the association says, with market values from $50,000 to more than $1 million. If you need a loan for a laundry business purchase, we also arrange SBA 7(a) loans, which cover business acquisitions. Equipment financing can cover any machines you replace after you take over.

Can you finance used laundromat machines?

Yes. Used and refurbished machines can be financed whether they come from a dealer, an auction or another owner, and they’re underwritten on the life they’ll have left at the end of the term. Commercial washers and dryers are judged on age and cycle counts, and a documented service history from the distributor supports a longer term.

Plan on money down. Expect 10% to 15% down on used equipment from a dealer and 15% to 25% on a private-party sale, with a rate roughly 1 to 3 points above the same machine bought new.

Say you buy four used 40 lb washers at about $3,000 each, near the low end of the listings above, and two used 45 lb stack dryers at about $5,400. That’s $22,800 before freight. With 10% down you’d finance $20,520, about $653 a month over 36 months at an assumed 9%. Used deals often price higher, so read that as a floor. One used machine on its own won’t reach our usual $15,000 minimum.

A private-party purchase adds a lien search, an inspection or appraisal on larger items, and funds paid straight to the seller. Our private-party purchase guide walks through those steps. I’d be careful with used top-loaders. At 5 to 8 years of life when new, an older one may not have much left to finance.

What do you need to apply for coin laundry financing?

For most deals under $500,000, a short application and a distributor quote with model numbers are enough for a first response. It helps to have the rest ready:

• The quote. Model numbers, pound capacities, quantities, and whether each machine is new or used.
• For used machines. The year, cycle counts and any service records.
• Install and buildout quotes. Delivery and installation can usually go in the same payment. A buildout needs the contractor’s written quote.
• Your store’s numbers. Collections, turns per day, and how long your store lease runs.
• For a first store. Your experience and the cash you’ll have left after the purchase.
• Over $500,000. A full financial package. Here’s how to send financials so the file moves quickly.

The application starts with a soft credit inquiry that doesn’t affect your score. Most applications get a first response within 1 to 2 business hours, clean application-only files can be approved in as little as 30 minutes, and funding can follow in 24 to 48 hours once documents are signed.

Frequently asked questions

How long can you finance laundromat equipment?

Equipment finance agreements run 24 to 84 months and leases 24 to 60 months. The term can’t outrun the machine’s remaining useful life. The Coin Laundry Association estimates front-load washers and dryers last 10 to 15 years and top-loaders 5 to 8, so new front-loaders fit a long term and used or top-load machines usually get a shorter one.

What credit score do you need for a laundromat loan?

Many established-business programs start around 600 FICO. A business under a year old is underwritten as a startup, which typically means 700+ personal credit, relevant industry experience, and working capital left after the purchase. Cash flow, the equipment and money down all count along with the score.

Can a first-time owner get a loan for a laundry business?

Yes. Qualified first-time owners are considered, typically with 700+ personal credit, relevant experience, and cash left after the purchase. Seasonal or deferred first payments are available while a new store ramps up. Buying an existing store as a business is usually a job for an SBA 7(a) loan, which covers business acquisitions.

Can you finance a full laundromat buildout?

Yes. Complete store buildouts can be financed. Where real estate or a full new-store buildout is involved, an SBA 7(a) or 504 loan may price better, and many owners use both: SBA for the build and equipment financing for the machines.

Should you lease or buy laundromat equipment?

Most operators finance the machines and own them. Washers and dryers earn every day for a decade or more, so an equipment finance agreement or a $1 buyout lease usually fits. A fair market value lease, 24 to 60 months, makes more sense for a store you don’t expect to run for the machines’ full life.

Can you finance a card payment system for a laundromat?

Yes. Payment and POS systems are financed like the machines. Card readers list for about $173 to $751 per machine, hardware only, so on a small store put them on the same agreement as machines or install work to clear our usual $15,000 minimum.

Does Section 179 apply to laundromat equipment?

Usually, yes. The 2026 limit is $2,560,000, phasing out above $4,090,000 of purchases, and new and used equipment both qualify. Machines on an equipment finance agreement or a $1 buyout lease with nothing down are deducted the same as a cash purchase if they’re placed in service by December 31. On a fair market value lease you deduct the payments as rent instead. Confirm with your tax advisor.

How fast can you get approved for laundromat financing?

Most applications get a first response within 1 to 2 business hours, and clean application-only files can be approved in as little as 30 minutes. Funding can follow in 24 to 48 hours once documents are signed. A distributor quote with model numbers is usually all a first response needs.

Keep reading

More on first stores, structures, credit and year-end taxes.

Commercial laundryCommercial laundry equipment financingOn-premise and industrial laundries: costs, terms and dry cleaning. StartupsCan a startup get equipment financing?What first-time owners need to get approved. Financing structureEquipment lease vs. loanThe payment, tax and ownership math side by side. Credit & underwritingWhat credit score do you need?The 600+ and 700+ tiers, and what else moves an approval. Tax strategySection 179 year-end playbookFinancing machines and putting them in service by December 31.

On the siteCommercial laundry financingEquipment financeSBA 7(a) & 504Quote BuilderSection 179 calculator

This article is general information about laundromat equipment financing. It is not tax, legal, or accounting advice, or a commitment to finance. Tax treatment depends on your contract and your business; confirm with your CPA. All financing is subject to credit approval and underwriting.